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Kenya's inflation rises to highest in 11 months

Kenya's inflation rises to highest in 11 months

Kenya

Kenya’s inflation rose in September, pushed higher by an increase in fuel, transport and food prices, the statistics office said on Friday.

The Kenya National Bureau of Statistics said the rate rose to 5.70 percent year-on-year from 4.04 percent a month earlier, while on a monthly basis inflation was 1.02 percent from 0.31 percent in August.

The Transport Index rose 7.99 percent from a month earlier and was up 17.29 percent when compared with September 2017 due to increased petrol and diesel prices.

A liter of petrol now cost upwards of 127 shillings ($1.20) from the previous 112.

President Uhuru Kenyatta signed into law last week the finance bill, which has introduced value added tax on petroleum products.

The levy has proved controversial, drawing protest from lawmakers, anger among commuters, and led to long lines at gas stations, worries about inflation, besides an industrial strike by fuel distributors and suppliers.

Reuters

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